How a Commercial Mortgage Can Help Your BusinessA commercial mortgage or commercial remortgage is a business loan which is secured against a commercial property. Commercial mortgages are often used to buy business premises, such as offices, shops, restaurants, or pubs. But they can also be used to buy other business assets such as plant or machinery. As well as being a useful way of financing the purchase of business premises for a new business, commercial mortgages can also be an excellent way of funding the expansion of an existing business. A commercial mortgage can also be used to fund investment in land or property which will be used for commercial purposes. A commercial mortgage can be used to buy most types of commercial buildings, such as shops and offices, for both new and existing businesses. The interest rates on commercial mortgages tend to be lower than the interest rates on unsecured business loans and the repayment terms are usually longer. This makes them useful for all sorts of business financing requirements. What About a Remortgage? If you already have a commercial mortgage on your company's business premises, you might find you could benefit from remortgaging. A commercial remortgage allows you to unlock some of the equity that is currently tied up in your commercial property. It could also be a chance to switch to a more competitive, cheaper mortgage, especially if your or your company's credit rating and business history have improved since you took out your original commercial mortgage. The money you free up through a commercial remortgage can be used for all sorts of things for your business. For example, you could purchase additional stock, or invest in new machinery or other fixed assets such as vehicles. Another use for the extra money can be to pay off outstanding bills, or clear other borrowings such as the company's overdraft. Here are some typical uses for a commercial mortgage or remortgage:
Further information on commercial mortgages and business loans can be found at the Online Commercial Mortgages website. Copyright 2004 David Miles. You are welcome to reproduce this article on your website, so long as it is published "as is" (unedited) and with the author's bio paragraph (resource box) and copyright information included. In addition, all links to external websites must be left in place. David Miles is the editor of a number of personal finance and business websites including The Cash Clinic and Employee Contracts.
MORE RESOURCES updated Thu. April / 18 / 2024 30-Year Mortgage Refinance Rates Business Insider How to Refinance Your Mortgage NerdWallet Loan Modification Vs. Refinance Bankrate.com Types of Mortgage Refinance Options Bankrate.com How To Get The Best Refinance Rate Bankrate.com Mortgage Interest Rates Today, April 16, 2024 | Rates Remain Elevated After Last Week's Spike Business Insider Mortgage Interest Rates Today, April 15, 2024 | Rates Are High, But They Still Could Drop This Year Business Insider Will Interest Rates Go Down in May 2024? | Mortgage Rates Forecast The Mortgage Reports Mortgage Rates Chart | Historical and Current Rate Trends The Mortgage Reports MBA: Mortgage Applications Increased in Weekly Survey Calculated Risk How To Refinance A Rental House Bankrate.com The best mortgage lenders for refinancing in April 2024 CNN Underscored Bain Proposes Japan's Kioxia IPO to Clear $5.8 Billion Loan Refinance U.S. News & World Report Current Student Loan Interest Rates in April 2024 Business Insider Best Mortgage Refinance Lenders of April 2024 Business Insider Current mortgage refinance rates CNN Underscored Best Mortgage Refinance Lenders In 2024 Bankrate.com Mortgage Rates This Week NerdWallet Mortgage Refinance Rates: Compare Current Rates Business Insider Mortgage Interest Rates Today, April 14, 2024 | Will Rates Still Go Down This Year? Business Insider Mortgage Rate Forecast April 2024 Bankrate.com When to Consider Refinancing Your Mortgage Business Insider 30-year refinance rates: What to know CNN Underscored Refinance Requirements: What You Need to Refinance Your Home in 2024 The Mortgage Reports Mortgage Rate History: 1970s to 2024 Bankrate.com Current 15-year refinance rates — and lenders that offer them CNN Underscored Should You Refinance Your Mortgage In 2024? Bankrate.com Veterans Are Refinancing Their Homes Newsweek How To Refinance An Underwater Mortgage Bankrate.com How Soon Can You Refinance a Mortgage? NerdWallet Refinancing a Home Equity Loan (2024 Guide) MarketWatch When to Refinance Mortgage: Is it Time? - Buy Side from WSJ The Wall Street Journal Conventional Refinance Rates and Guidelines for 2024 The Mortgage Reports Will Mortgage Rates Go Down in 2024? What Homebuyers Should Expect Business Insider Mortgage Interest Rate Forecast for Next 10 Years Norada Real Estate Investments 15-Year Mortgage Refinance Rates: Compare Current Rates Business Insider Should I Refinance My Mortgage Now? When to Refinance As Rates Drop Business Insider What Credit Score Do I Need To Refinance? Bankrate.com Office of Research blog: A look at cash-out refinance mortgages and their borrowers between 2013 to 2023 Consumer Financial Protection Bureau Best Refinance Lenders of April 2024: Refinance Your Mortgage The Motley Fool
|